A leading West Midlands property figure says a growing sector within the industry will see hundreds of millions of pounds invested in the region. David Allen, Director of Holt Commercial, chaired the Investment Property Forum (IPF) Midlands’ seminar on the growing Private Rented Sector (PRS).
The event, which took place at Pinsent Masons HQ in Colmore Row, Birmingham, heard from Grainger (the UK’s largest listed residential landlord with a portfolio of 9,000 rental homes) and L&G. The seminar heard about two major PRS schemes in the region, including the Gilders Yard development in Birmingham, which David Allen advised on, that will see a 156 home scheme developed in the Jewellery Quarter in 2019.
David Allen said “I was very pleased to chair this event as PRS is an advancing sector of the industry and it is an area that I have been advising clients on, particularly in the past 12 months as it gathers momentum. At this meeting alone, we heard about more than £80 million worth of investment coming into the area through PRS and I have no doubt that it is going to continue to grow over the coming years. There are a number of very well-known investing institutions with Birmingham on their radar and equally that interest is spreading out to other cities in the Midlands.”
Pictured: David Allen (on the right) with speakers at the event